Total unsold homes in Malaysia highest in a decade, Bank Negara says

KUALA LUMPUR, Feb 14 — Malaysia faces a shortage of affordable houses for the masses, Bank Negara Malaysia (BNM) warned in a report that also disclosed data showing houses in the country were “seriously unaffordable” in 2016 by international standards.

The central bank outlined five strategies to overcome the issue, including centralising affordable housing initiatives and setting up an integrated housing database and an applicant registry for planning and allocating affordable housing.

It also suggested reducing the cost barrier to affordable housing, rehabilitating household balance sheets by enhancing financial literacy and improving the rental market by strengthening the legal framework.

Read more at http://www.themalaymailonline.com/malaysia/article/total-unsold-homes-in-malaysia-highest-in-a-decade-bank-negara-says#fLb4pjRDLkCP7Hg3.99